Singapore competition watchdog fines Grab, Uber $9.5 million

Singapore's competition watchdog, CCCS, said that the penalties were imposed to "deter completed, irreversible mergers that harm competition".

Grab completed the Transaction within its legal rights, and still maintains we did not intentionally or negligently breach competition laws.

"Grab agrees with, and has long advocated for, industry-wide regulations that allow drivers to freely choose which platform or operator they wish to drive with", Lim said.

"We are disappointed by the CCCS decision announced today". For drivers to have full maximum choice, all transport players, including taxi operators, should also be subjected to nonexclusivity conditions.

Within days of the merger, the Competition and Consumer Commission of Singapore (CCCS) launched an investigation regarding it and now, we've finally known the verdict.

Uber had on March 26 sold its South-east Asian business to Grab for a 27.5 per cent stake in Grab, in a move believed to help it mitigate its losses from intense competition against Grab and Go-Jek in the region. Grab was fined $4.6m for its part in the deal.

CCCS said: "CCCS's final decision and directions open up the market and level the playing field". Grab will continue to adhere to our pre-transaction pricing model, pricing policies and driver commissions.

Pointing to the Land Transport Authority, it noted that the country's regulatory framework pertaining to point-to-point transport now was under review and it hoped this meant the non-exclusivity issue would be addressed. These appear to be very similar to the proposed interim directions CCCS had issued earlier this year. Uber had been ordered to pay S$6.58 million (US$4.83 million), while Grab would have to fork out S$6.42 million (US$4.71 million) in penalties.

In the Philippines, where the deal has been approved, the competition watchdog has said it is monitoring Grab's compliance with conditions meant to improve the quality of service, with any breaches possibly resulting in fines.

The latest directions include ensuring that Grab drivers are not required to use Grab exclusively; removing Grab's exclusivity arrangements with any taxi fleet in Singapore; and requiring Uber to sell the vehicles of Lion City Rentals to any potential competitor who makes a reasonable offer, or to Grab but only with CCCS's approval.

Grab fares rose between 10 and 15 percent after the deal as the company reduced the number of points earned by riders and made it harder for them to redeem them, it said.

A four-year veteran of the department, Guyger has the right to appeal the disciplinary action, according to the tweet. When she put her key in the apartment door, which was unlocked and slightly ajar, it opened, the affidavit said.

She said that the 400 customs officers that will be hired in preparation for Brexit will not be stationed on a north-south border. European Commission President Jean-Claude Juncker said a deal with Britain was still "far away", an EU official said.

Trafigura Group co-head of oil trading Ben Luckock sees $90 oil by Christmas and $100 in early 2019. "We will remember. Bank of America's main scenario is for oil prices next year of around US$80 a barrel, according to the note.

Blasey and Kavanaugh are scheduled to testify before the Senate Judiciary Committee about Blasey's accusations on Thursday. His spokesman, Conn Carroll, said " the New York Times has poked significant holes in The New Yorker story.

Republicans, who hold a paper-thin majority in the Senate, can ill afford defections if Kavanaugh is to be approved. Kavanaugh , also due to testify at the Judiciary Committee hearing, has denied the accusations by Ford and Ramirez.

Following the completion of the transaction, there will be no immediate change in listener offerings, according to both companies. The all-stock transaction values Pandora at US$10.14 a share, about 12 per cent more than the company's closing price on Friday.

In the split second before Garoppolo was blasted by Nelson, his knee left knee buckled, leaving him on the turf in obvious pain. The 49ers are 1-2 and crossing their fingers about their quarterback. 49ers: Play the Chargers in Los Angeles next Sunday.

Michael Kors and private equity firm Blackstone, which owns 20% of Versace, did not immediately respond to a request for comment. The 40-year-old fashion house returned to profit in 2017 and reported revenue of almost $800 million.

Leonard spent 73 games on the bench last season with a quad injury, which caused the team to question the severity of the injury. It's a great organzation and I was happy Danny [Green] was coming with me.

He was fantastic today, and picking up the side's first clean sheet of the season, fans can finally give him plenty of praise. But Lacazette ensured that lethargic spell wouldn't prove costly when he smashed a sublime opener in the second half.

The Vatican's No. 2 official indicated that the pope and Chinese authorities would jointly approve new bishop appointments. Taiwan now has formal relations with only 17 states and the Vatican is the only one in Europe.

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